Installs storage solutions which will cut down operating cost, reduce banking transaction time and augment performance
In an attempt to consolidate all its business databases into one single platform, Lakshmi Vilas Bank (LVB), one of the leading private sector banks, has acquired an Enterprise Storage Solution which is a centralized system that the bank will use for managing and protecting vital customer data.
This solution will not only lead to an efficient management of critical data but will also enable the bank to embark upon projects like data warehousing, data mining, business intelligence and channel integration (SOA) thereby paving the way for Customer Relationship Management (CRM). This new Storage infrastructure will further help LVB to meet their BCP strategy in an effective manner.
Mr. K.S.R. Anjaneyulu, CEO and MD of Lakshmi Vilas Bank informed that “With the implementation of the enterprise storage and upgrading to the new server, the bank has become more competitive with faster turnaround time for its products and services and improved its overall efficiency across the board. The IT infrastructure has now been scaled up to meet the aggressive business projections of the bank”.
To further reduce banking transaction time and improve the accessibility of data between branches and different channels like Netbanking and ATM, LVB has also upgraded their Core transaction Server from IBM P5 series to IBM P6 series box and the same is integrated with the state of the art Hitachi Storage Solution seamlessly.
Speaking on the implementation of this new IT platform, Mr. B.Murali Nair, Chief Technology Officer of Lakshmi Vilas Bank said, “The improvement in the operational efficiencies has been significant. The storage platform’s availability for mission critical applications is in line with the best practices in the BFSI sector. I am sure this will boost the bank’s performance and profitability in the days to come”.
About Lakshmi Vilas Bank:
Lakshmi Vilas Bank is a leading, fast-growing private sector bank in India, with an over 8 decades old lineage. The Bank caters to the need of both consumer and corporate clients and has a robust technology platform supporting multi–channel delivery capabilities. The Bank enjoys the patronage of several lakh customers across India through a network of 271 branches and over 168 ATMs spread over 14 states and 1 union territory.
The Bank’s focus is on delivering customer delight by maintaining the highest standards of service. As a full service bank, Lakshmi Vilas Bank has a wide product portfolio such as business credit, SME credit facilities, NRI Services, home loans, rental loans, education loans and online banking. It offers a wide array of mutual fund products from 10 asset management companies (AMCs). The Bank also offers life insurance and general insurance products.
For further information log onto: www.lvbank.com
